What is the Internet of Things? Examples You Need to Know

What is the Internet of Things?

You know what the internet is. That wonderful network connecting you with every other person, company and service in the world. But what is the Internet of Things? And what are some common examples?

Summary: The Internet of Things, or IoT, describes all devices that communicate via a network, such as the internet. This doesn’t just include your laptop, phone, or tablet, but also smart sensors, controllable lights, kitchen appliances, and all other devices that can transmit data. If it’s a hardware device with sensors, processing power, and the ability to exchange data via the web, it belongs to the IoT.

Tip: As the Internet of Things expands, so do its risks. Make sure to buy antivirus software for your smart devices and get a VPN service to protect your digital privacy.

The Internet of Things Examples

Due to technological advancements, many physical objects and devices can be used as IoT devices and connected with others via the internet.

A lightbulb is a perfect example. While a traditional lightbulb is not part of the IoT, a smart lightbulb that can be controlled using a phone app can be classified as an IoT device.

Similarly, smart thermostats are known as IoT sensors because they can be controlled remotely and share data via private networks or the internet.

Other IoT examples include motion sensors, security cameras, toys, cars, and even entire cities.

In general, IoT devices don’t have to be objects that would have an internet connection by default but can be adapted and enabled to communicate with a network without requiring human action.

Because of this distinction, laptops, computers, or even mobile devices aren’t generally considered IoT devices. But smartwatches, fitness bands, and other similar wearables can be categorized as IoT devices.

IoT vs. the Internet of Everything

Some people are still confused about the term Internet of Things and how it differs from the traditional internet.

That’s somewhat understandable because IoT is a misnomer. In theory, IoT devices don’t have to be necessarily connected to the internet. They can simply share a private wireless network.

The only real requirement is for the objects and devices to be individually addressable.

The internet everyone knows is also called the Internet of Everything to create a distinction between it and the IoT.

While the IoT refers to connected devices, the Internet of Everything refers to all processes, technologies, and people and how they connect and communicate via the internet.

You can also think about the Internet of Everything as the actual connection created among users, devices, and software. In contrast, the IoT only refers to the network of certain physical devices that don’t need human interaction.

How the IoT Started

The concept of IoT sensors and supplementing regular objects and devices with intelligence was popularized in the 1980s.

However, the technology wasn’t advanced enough to support IoT adoption on a large scale. This was particularly due to the large size of chips at the time and the difficulty of ensuring efficient communication between IoT sensors and IoT devices.

One of the earliest and most impactful additions to the IoT was the introduction of RFID tags. These chips could easily communicate wirelessly, especially as broadband internet got better. In addition, the low power consumption and adoption of wireless networking made the use of RFID tags possible.

Another major step toward creating the IoT was the IPv6 protocol. This is a communications protocol that provides a vast number of IP addresses for devices and efficiently routes traffic over the internet. Although IPv6 was introduced in 1995, it remains the gold standard today due to the sheer number of addresses it can provide, easily covering all devices.

It’s believed that the current state of IoT tech would be enough to account for up to 100 trillion IoT units.

The term Internet of Things was coined in 1999. But it took at least a decade for it to scale to the point where it could be adopted by multiple industries.

Initially, only businesses and certain manufacturing sectors would use IoT devices and sensors, primarily to track expensive equipment.

That said, there’s a big shift towards making the IoT a bigger part of our daily lives. This is evident in the staggering number of smart home IoT devices on the market.

IoT Size

The Internet of Things is growing rapidly in most sectors. Between 2018 and 2020, the number of IoT devices used in the utility sector grew from .98 billion to 1.37 billion.

Physical security and government segments use the next most IoT devices and IoT sensors, especially in the form of security devices like webcams and intruder detection devices.

Although the transportation industry isn’t as present in the IoT, various analysts predict the rapid expansion and adoption of IoT technology.

The following list ranks sectors in order of how many IoT units were available as of 2020.

• Utilities

• Physical security

• Government

• Building Automation

• Automotive

• Manufacturing and natural resources

• Retail and wholesale

• Information

• Healthcare

• Transportation

Currently, building automation is experiencing fast growth through IoT-connected lighting devices, with the automotive and healthcare sectors following suit with connected cars and devices that monitor chronic conditions.

What Are IoT Devices?

IoT gadgets are any type of hardware electronic devices, whether an appliance, sensor, or component, that display computing capabilities and send and receive data via the internet or wireless networks.

Some IoT devices are standalone gadgets, while others must be embedded into other devices or machines to perform their functions.

What Are IoT Sensors?

IoT sensors are essentially devices connected to the IoT that can detect and react to various environmental changes.

Common types of sensors include those for detecting motion, temperature, light, pressure, etc. IoT sensors are more prevalent in the IIoT or Industrial Internet of Things. That’s because many industries rely on sensors to manage business operations, perform maintenance, prevent downtime, or gain vital insight into market trends.

That said, IoT sensors are available in many smart home devices too.

There are quite a few types of commonly used IoT sensors.

Temperature

A temperature IoT sensor is capable of measuring heat energy and detecting temperature changes. It can then convert its readings into shareable data and communicate it to other IoT devices or devices within an enclosed network.

Every smart thermostat is an IoT sensor that can help manage heating costs and ensure maximum home comfort. Another industry that heavily uses temperature IoT sensors is the agriculture sector which needs optimum control over soil temperature to maximize crop growth.

Proximity

Proximity sensors are used in many areas. The automotive industry uses proximity sensors to provide parking assistance and indicate the number of available parking spots in commercial parking lots.

The retail sector can use infrared proximity sensors to monitor and enhance interactions between customers and their favorite products. For example, a retail store could use sensors to trigger discount notifications for customers when they approach certain items.

Other types of proximity sensors are found in factories and assembly lines.

Humidity

Like temperature sensors, humidity IoT sensors see a lot of use in residential and industrial applications. These sensors are common in HVAC systems and can measure water vapor content and transmit their findings over the internet.

Optical

An optical sensor can convert light rays into electrical signals. These are perhaps the most important type of sensors for the future of the automotive industry as they’re instrumental in building safe driverless cars.

Other optical sensors can be used in heart rate monitors to extend the battery life of mobile devices, provide parking assistance, or even perform breath analysis.

Gas

IoT gas sensors are among the most well-known types of sensors. They’re commonly found in residential areas and are used to detect carbon dioxide buildup.

Of course, more advanced IoT sensors can detect the presence of numerous other hazardous gases and feed the collected data to devices. Using sensors can help automate certain maintenance tasks and security responses.

Pressure

Pressure sensors are used to detect pressure changes in liquids and gasses. They can be very efficient at identifying potential leaks and fluctuations.

Common uses for pressure IoT sensors include water treatment facilities and manufacturing processes.

Accelerometer

An IoT accelerometer can gauge how fast an object is accelerating.

They’re used for various applications, from anti-theft protection in the automotive industry to smart pedometers for everyday use. Many smartphones today contain accelerometers, but there are plenty of these sensors that can be used without smartphone implementation.

Gyroscope

Gyroscope IoT sensors are somewhat niche compared to others. They measure the velocity at which an object moves around an axis.

Most gyroscope sensors people know are those that provide automotive navigation or contribute to electronic stability control in vehicles.

But gyroscope sensors are also used to prevent camera shaking or to capture motion for video games, film work, etc.

Infrared

Infrared IoT sensors can lend themselves to many monitoring applications, from detecting infrared radiation to measuring heat to monitoring blood pressure.

Others can be used to identify hidden layers in works of art which is crucial for authenticating and restoring paintings.

Keep in mind that not all infrared sensors are designed for IoT applications. For example, an infrared TV remote uses an infrared sensor but won’t be considered an IoT device.

On the other hand, a smart TV is considered an IoT device.

How an IoT Architecture Looks Like

A standard IoT architecture contains three tiers or layers – the devices, an edge gateway, and the cloud.

The devices account for all units from the sensors to the actuators inside various IoT equipment with valid protocols for connecting to the edge gateway.

Edge gateway layers are made from sensor data aggregation systems. These handle pre-processing data operations before ensuring cloud connectivity and streamlining IoT device management.

The last tier is any cloud application built specifically for IoT networks. This could refer to the databases storing sensor data, platforms that manage communication, and processing applications.

Cloud tier is also referred to in some circles as enterprise IoT.

How Is the Industrial Internet of Things Different?

The IIoT has been referred to as the fourth industrial revolution and Industry 4.0. But regardless of terminology, it always comes down to the same concept of using IoT technology in business environments.

Compared to consumer IoT which mostly encompasses smart home devices and quality of life automotive devices, the IIoT leverages more technology and industrial IoT devices.

The biggest difference is that the IIoT combines sensors and wireless networks with AI technology, business analytics, and big data to measure, monitor, and improve efficiency in industrial settings.

The use of Industrial IoT and internet connectivity across the supply chain has great potential for improving delivery times, production and data management, workforce productivity, and even reducing operational costs. In some industries, it can even enable new revenue streams.

IoT Consumer Benefits

Think about the popular Amazon Echo or any other connected device or smart speaker. They make it easy to play music, watch movies, control lighting, change the ambient temperature, and get information by accessing the internet.

Sure, these are things people can do with their smartphones. But certain IoT devices streamline these activities and help monitor a wide range of interior and exterior factors while also improving communications.

For instance, some IoT sensors can provide real-time data regarding pollution and air quality. This can be helpful for the decision-making process when people relocate and go house hunting.

The ability to turn the lights on or off in your home can make it appear as if you’re at home when you’re away on a business trip. Playing music, lighting up rooms, and creating the illusion that someone’s home makes a house a less inviting target for thieves.

Although some of the consumer benefits today can be chalked up to the quality of life improvements, some IoT smart home technology can help with other tasks.

Imagine someone with a physical disability or injury using a voice-activated smart hub to call 911 for assistance. Or consider the ability to receive a gas leak notification even if you’re hundreds of miles away from home.

Many IoT innovations, even for the average consumer, can help perform vital tasks and increase security regardless of the user’s actual location.

What You Need to Know About IoT Security

Not everyone is super excited about the IoT. Sure, there are many benefits to implementing more Industry 4.0 technologies in commercial, residential, and industrial sectors. But everything that can transfer data online runs into security concerns.

As it stands, the IoT has a poor security track record.

IoT sensors can collect data, including sensitive information, such as what people say inside their homes.

Clearly, consumers want assurances that this information is secured and can’t be accessed by unauthorized third parties hacking the devices remotely or intercepting it elsewhere on the network.

Unfortunately, securing IoT devices is an ongoing problem. Unlike computers and smartphones, the majority of IoT devices and IoT sensors aren’t built even with basic security protocols in mind.

Remember that many IoT units are quite rudimentary, despite having some computing power and communication capabilities. Therefore, reliable data encryption isn’t even possible in some cases.

Lacks Sufficient Oversight

Another issue is the way IoT device manufacturers handle design and production. You might be surprised at how many of these units are made using outdated software, open-source code, or even flawed software.

Unlike computers and more advanced devices, some IoT units can’t even be patched to fix vulnerabilities. Therefore, the risk of hacking and intercepting data transfers is all too real.

Network routers and webcams are examples of IoT devices that one would expect to carry a few security measures. But that’s not the case.

There have been plenty of instances of hackers gaining access to every device type, from your average webcam to smart ovens and dishwashers. Even smartwatches have security flaws and could enable cybercriminals to track people’s location or record their conversations.

Thankfully, consumers aren’t the only ones worried about the lack of security in the IoT. Governments have started paying more attention to how these devices are manufactured, protected, distributed, and maintained.

Some have created guidelines that advocate for unique device passwords, easier vulnerability reporting processes, and better predictive maintenance and security updates.

However, no specific laws dictate how IoT device and sensor manufacturers and operators should approach existing or new products.

Too Much Availability

Another reason that raises security concerns is the declining cost of making more smart devices and sensors. The more unsecured devices that flood the market, the more difficult it can be to address security concerns and keep up with software vulnerabilities.

Of course, consumer security is just one aspect. When you think about IoT security in general, IoT business technologies need even more protection.

An unsecured IoT network linking industrial machinery could let hackers take control over manufacturing facilities. One could argue that hacking into utilities IoT networks could lead to a critical infrastructure failure that could affect entire cities.

Industrial espionage is nothing new either, and widespread adoption of IoT can make it harder to protect intellectual property.

With that said, there’s no denying that IoT is necessary. It connects the digital and physical worlds and has amazing potential to make people’s lives better.

But for IoT to earn a stellar reputation, industry leaders must take security planning more seriously. IoT security is one of the things that end-users and the average consumer have very little control over.

Plenty of Warnings About Smart Devices

Imagine someone hacking into a connected car, messing with temperature sensors in a nuclear power plant, tampering with medical devices, etc.

Even the U.S. intelligence community is in agreement that expanding the Internet of Things ecosystem with more consumer and industrial devices can create critical infrastructure vulnerabilities. The concern is emphasized in dams, electric grids, bridges, and other infrastructure applications.

Many have also warned that even household cookers could be used to spy or wreak havoc by domestic and foreign threat actors. Yet, for all the warnings and real-world examples of IoT security failures, beefing up the protection isn’t progressing quickly enough.

What Are the IoT Privacy Concerns?

Privacy is already a major concern for every internet user. Internet service providers monitor all of your online activities if you don’t protect yourself. Various organizations use cookies to learn everything about you and bombard you with targeted ads. Governments can access your digital footprint in minutes.

The internet doesn’t have a lot of privacy. But the adoption of IoT technology has raised additional privacy concerns, mainly because of the inherent lack of security.

You only need to consider a smart or semi-smart home with a couple of sensors and connected gadgets.

Depending on the devices you use, someone could learn pretty much everything about your daily routine. Smart coffee machines record and transmit data about when you wake up and how you like your coffee.

Your smart speaker knows your favorite music, movie, and radio station preferences. A smart fridge may record information about the food you eat, perhaps even where you prefer to do your grocery shopping.

Smart toys can record children’s preferences. Home security IoT units can track everything in their line of sight and record when and how often you leave the house. It isn’t difficult to imagine the kind of insight thieves and other individuals can gain into your life if they could access this information.

Data Generated by Connected Devices Is a Hot Commodity

Now, security concerns aside, there’s another reason why privacy is a hot topic. Theoretically, you don’t have to be hacked for someone to access your information.

Some companies that sell or monitor IoT smart devices and sensors have multiple revenue streams. One of those revenue streams can be selling information to big data analytics companies. Industry 4.0 is all about big data and learning as much as possible about consumers.

Granted, not all companies harvest data to sell it, but plenty of them do it, which raises serious privacy concerns. And don’t think that even the tiniest bits of information can’t be put together to make accurate deductions about your habits, income, and lifestyle.

But IoT privacy isn’t a problem only for users of consumer IoT devices and smart homeowners. It’s a significant issue for businesses.

Dangers of Data Collection in Business Environments

Imagine the following scenario. A company holds a meeting to discuss a new product, a pivot of direction, taking the company public, a merger, etc. Would the room still be an ideal setting to hold those kinds of discussions if it had IoT cameras, speakers, or sensors?

What if one of the sensors was hacked and used to leave a backdoor into the company’s internal network?

Choosing the wrong IoT products could spell disaster for corporate privacy and security. They might even cause involuntary sensitive data leaks, not to mention being prime targets for hacks.

What’s even worse is that not enough people understand the IoT concept. Therefore, they can’t properly identify IoT products and spot security risks. Sure, a lot of this has to do with the general lack of security surrounding IoT devices and sensors. But lack of awareness of the dangers is equally instrumental in stripping companies of privacy.

How Data Flows on IoT Networks

Almost all IoT devices contain one or more sensors that automate farming techniques for various data sets. Of course, the type of data collected differs depending on what task the device must accomplish.

For instance, IoT sensors installed in industrial machinery are more likely to measure pressure levels and temperature, while security cameras come with proximity or optical sensors to capture movement.

Regardless of what data sensors collect, many IoT devices don’t come with the same storage capabilities as computers, smartphones, and other computing gadgets. Therefore, the data must be sent somewhere else.

IoT gadgets use Wi-Fi, 4G, 5G, Bluetooth, and other types of transmissions to communicate with other IoT units in the network.

Some analysts assume that in the next few years, IoT data transmissions will account for 79.4 zettabytes of data traffic. A single zettabyte is roughly equal to 1 billion terabytes, which is an astounding amount of information.

But unlike other types of internet traffic, IoT traffic usually happens in small bursts. Temperature and humidity readings from IoT sensors account for a few bytes of information. Of course, some devices like smart webcams and security cameras are responsible for larger information transfers.

In the current state of IoT, security devices are responsible for most of the IoT-generated traffic. That’s despite the utility sector having more IoT units in use. However, it’s possible that the industrial and healthcare sectors will generate more data in the future as they adopt more IoT technology.

The automotive industry might follow suit due to the high number of sensors in electric vehicles and driverless cars, as well as the importance of IoT for fleet management.

The massive amount of data generation makes the IoT a major contributor and driver of big data projects. Many companies crave access to vast data sets that enable comprehensive analysis.

Most people think of big data as a resource for marketing and advertising applications. While it’s true that big data is very helpful in identifying trends, predicting consumer habits, and other areas, it’s also useful for understanding the behavior of various real-world scenarios.

One of the goals of IoT technology implementation in urban infrastructure is to identify methods for traffic optimization. And it’s the potential to feed real-time data into databases that makes IoT so exciting in various sectors.

Everything from environmental readings to videos or audio information can be mined to gain more insight into specific areas.

But massive data generation requires substantial processing power. There are concerns about the potentially high costs of integrating IoT tech in various businesses. Fortunately, this is where cloud computing comes in.

IoT and cloud data processing go hand in hand. With cloud services, businesses can substantially cut their costs by not requiring large server rooms to store data or vast amounts of resources to analyze data sets.

Google Cloud, Microsoft’s Azure IoT suite, and Amazon Web IoT Services are some of the biggest players on the market with IoT-specific cloud processing services.

AI Involvement in IoT

Another term you often hear alongside IoT is AI, or artificial intelligence and machine learning. Remember that IoT smart objects are close to generating over a billion terabytes of data. That much information needs efficient communication protocols, storage, good collection technology, and analysis.

But when you’re talking about this much data, it can be difficult to extrapolate accurate information from multiple data sets created by millions if not billions of IoT units.

This is the reason why many companies have started leveraging AI to untangle the mess and get results.

Google Is Paving the Way Forward

An AI system can process much more information than any other type of system. And it can be used in many types of applications.

Google is a trailblazer in this category. The tech giant defers to AI technology when it comes to data center cooling. The AI can process data collected by thousands of sensors using its deep neural networks.

Then, it can make accurate predictions and test scenarios to improve data center cooling and energy consumption. This enables Google to optimize its data centers. Something similar can be implemented in many other industries as it will only be limited by the AI’s capabilities.

How 5G Fits Into IoT Systems

Connecting devices and sensors in IoT systems is so easy these days, it’s no wonder there are billions of smart gadgets in use. Wi-Fi, Bluetooth, LTE, or Zigbee connections are quite common. Some may even use Ethernet connections to extend network access to offline devices.

But since the adoption of 5G, more and more IoT platforms and projects are trying to make the switch to 5G networks. 5G technology offers maximum performance and ample scalability.

For example, a good 5G network can fit up to a million devices in an area of 0.3 square miles. This can provide ample support for industrial IoT and critical infrastructure IoT projects.

Despite the excitement surrounding the idea, 5 G’s widespread deployment is still a few years away. While some predict that 2025 will see around 5 billion IoT units connected to mobile networks, it’s likely that 4G connectivity will still account for most of the traffic.

Other estimates indicate that the security sector is the first industry to make the most use of 5G IoT devices. Connected cars will probably be the next big industry to include widespread 5G adoption.

Everyone can make their own predictions, and it’s difficult to say which analyst or industry leader has the most accurate forecast. Aside from using hard data, these predictions can also rely on varying levels of optimism regarding IoT inclusion.

For example, some analysts believe 2023 will be responsible for almost 50 million 5G IoT devices and sensor sales. At the same time, others say at least 60 billion IoT devices will be sold in 2026 alone. If both predictions are close to accurate, it may seem that 5G units will still account for a very small portion of the larger IoT ecosystem in the immediate future.

IoT Smart Cities Projects

It wasn’t long ago that the idea of a smart home was still a novel concept, mostly represented on screen but with limited real-world applications.

These days smart homes are quite real and incredibly complex, albeit very expensive.

Yet smart homes will only get better from here. This begs the question: Where does IoT go from here? Smart cities are perhaps the next long-term goal for IoT integration.

Various smart cities projects revolve around stacking thousands of sensors in key locations to access environmental and infrastructure data, trends, and other insights.

Some IoT projects are already underway and tap into security camera systems and weather monitoring systems, traffic lights, etc. But not all of them are connected to IoT networks.

A town would need to connect multiple systems to reach smart city status like you might connect your coffee machine, thermostat, oven, porch lights, TVs, and LED lighting fixtures to a smart home hub or smart speaker.

In the U.S., AT&T is involved with a massive bridge and infrastructure monitoring project using LTE sensors to check for structural changes. It has the potential to offer vital insights into the condition of bridges, roads, highways, railways, and other core infrastructure elements.

Managing a smart city is not only easier but more efficient. Firstly, planning a city using big data sets can help planners make better decisions.

Secondly, IoT devices collect data and transmit it in real-time. This could potentially allow electrical and electronics engineers to respond faster to power grid failures or help traffic controllers decongest high-traffic areas.

Smart buildings could become more energy efficient and leave a smaller carbon footprint by optimizing power consumption.

Data generated by an IoT infrastructure can have many benefits beyond predictive maintenance. But, as many intelligence agencies warn, the security systems must be improved to support large-scale IoT services and operational technology in the physical world.

Other Types of IoT Projects You Should Know

The term IoT can describe any type of network using IoT devices and sensors, whether it’s for consumer, commercial, or industrial use.

That said, the terminology can change to differentiate between various fields. As previously noted, IIoT, or the Industrial Internet of Things, is often used to distinguish between industrial applications and other uses for specific IoT systems.

IoMT stands for the Internet of Medical Things and is attributed to the technology used to digitize the healthcare system’s data collection, monitoring, research, and service delivery applications.

This could contain anything from at-home health monitoring wearable devices to radiation sensors to IoT units found in remote research facilities.

Due to the IoT still finding its place in the world, not all of the terminology makes sense. A perfect example is the Internet of Military Things, also abbreviated IoMT.

The Internet of Military Things refers to any IoT technologies developed for or repurposed for surveillance, reconnaissance, and combat-related tasks in urban environments.

However, smart technology used in a military domain could include more than sensors and cameras. It can also extend to drones, machine learning, special munitions, unmanned vehicles, robots, and even wearable biometric devices.

The internet of Battlefield Things or IoBT is another military IoT network project with a more research-oriented focus. It aims to streamline collaboration between army researchers, industries, and universities to help develop better IoT technologies for army operations.

SIoT is another subset of the IoT and stands for Social Internet of Things. It’s more of a trend that emphasizes the importance of the quality of relationships between multiple IoT devices. One way it stands out more from conventional IoT is its focus on enabling cross-domain communications and interaction without human intervention.

Remember that IoT is mostly a passive system with the goal of executing specific tasks within a predetermined system. However, SIoT is a type of active IoT.

Not only can it access IoT units outside the predetermined system, but it’s actively managed by an AI. This means that it can assist, even in unplanned scenarios that would’ve exceeded the scope of the main predetermined system.

Examples of SIoT technologies can be found in smart home health monitors that can communicate with emergency medical services when the patient needs attention. Another area in which SIoT is becoming more present is the driverless automotive sector.

SIoT sensors can be installed in cars to assess road conditions and vehicle performance or even in traffic cameras. The latter can be used to notify police and ambulances of traffic accidents even if a victim is unable to do it themselves.

What Is Decentralized IoT?

If you go deep enough down the IoT rabbit hole, you’ll run into something called decentralized IoT. It uses the same traditional concept but functions differently than conventional IoT.

Standard IoT relies on a classic mesh network led by a centralized controller. That controller decides everything about how data is generated, stored, and communicated between devices.

Decentralized IoT aims to segment IoT networks into multiple smaller divisions. Instead of one centralized controller in charge of everything, each division gets assigned its own sub-node or sub-controller and receives decision-making power based on an agreed-upon policy.

Why is this necessary?

Some IoT platforms can contain millions of nodes. Managing so many units can create a lot of lag on cloud servers and hinder the responsiveness of IoT applications. This is particularly bad for latency-sensitive technologies like autonomous driving applications, patient monitoring, and critical failure detection in energy and industrial sectors.

Decentralizing the network is often achieved using lightweight blockchain technology and can overcome bandwidth and processing limitations.

Despite its obvious potential for streamlining IoT network operations, even decentralized IoT remains vulnerable to attacks. Although, one could argue that early detection security protocols can be installed at the edge nodes.

An Interesting Future Ahead

IoT can still seem confusing, especially given its poorly-thought terminology and various subcategories. However, there’s no doubt that IoT adoption will increase as time passes.

Such devices are becoming progressively cheaper to build and operate, so at least the residential sector should see more IoT usage.

As for everything else, IoT needs many improvements in security, privacy, and storage before widespread implementation in more sensitive sectors.

Resources

• InsiderIntelligence
• Wikipedia
• ZDNet

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